The combination New Zealand Dollar/US Dollar (NZD/USD) goes from the bullish trendline down.
A bearish movement downwards to the next support level at 0.59434 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 0.59955 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.595455 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 0.59955 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
Furthermore a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. which could be a negative signal. The currency pair could go down.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.60131 |
2nd High | 0.60007 |
Next High | 0.59955 |
Current Price | 0.59695 |
Next Low | 0.59434 |
2nd Low | 0.59393 |
3rd Low | 0.59136 |
0.59955 – 0.59935 – 0.59771 – 0.59434 – 0.59613 – 0.59393
Trading Signals: FOREX – NZD – NZD/USD – USD – Three Black Crows